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Penn Virginia Corporation Message Board

  • realfoxiegirl realfoxiegirl May 9, 2013 2:56 PM Flag

    in 2008, pva was over 60, and then began a long slide

    any generous historians on the board with some brief and complete memories of #$%$ went on?

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    • may not be apples to apples.
      The company has transformed itself in past three years.

    • Here's a beginning for you. I'll leave you to do the rest of your homework. :-)

      Penn Virginia's history dates to the Virginia Coal & Iron Co. (VC&I) founded in 1882 by Philadelphia, Pennsylvania businessman John John Leisenring, Jr.,[6] whose grandfather had settled in the anthracite coal-rich Lehigh Valley in 1748. Leisenring's father ran a hotel in Mauch Chunk which was the headquarters of the Lehigh Coal and Navigation Company. Leisenring engaged numerous coal partnership but his biggest success was acquiring rights to a coal vein in on 67,000 acres (270 km2) southwest Virginia, close to the Kentucky and Tennessee borders that had once been partially owned by Confederate general John D. Imboden who had sold it to the Tinsalia Coal & Iron Co. which also bought a Bristol Coal and Iron Company Narrow Gauge Railway to bring it to market.[7] In 1902 the Stonega Coke & Coal Co. was formed to be the company's operational arm. In 1917 it acquired a major stake in Westmoreland Coal.[7]
      In 1967 it changed its name to Penn Virginia Corporation. After going through a period of diversification it began acquiring and oil and gas companies in the 1980s. Penn Virginia was listed on the New York Stock Exchange in 1997. In 2001 it began decentralizing again spinning off its coal and pipeline operations into Penn Virginia Resources.[7]
      In 2006 it spun off its ownership of Penn Virginia Resources into a third publicly traded company Penn Virginia GP Holdings, L.P."